Tesla (TSLA) is seeking approval to offer ride-hailing services in California, which suggests Elon Musk’s electric car company is working to launch a ride-hailing business in the near term that would open a new revenue stream and put it in competition with companies like Uber (UBER), Lyft (LYFT) and Alphabet’s (GOOG) (GOOGL) Waymo, reported Bloomberg’s Dana Hull. The electric vehicle manufacturer applied late last year for what’s known as a transportation charter-party carrier permit from theCalifornia Public Utilities Commission, according to documents viewed by Bloomberg.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TSLA:
- Nvidia (NASDAQ:NVDA) Proves a Powerhouse in Self-Driving Cars
- Tesla Stock (TSLA) Has Now Lost Nearly All of Its Post-Election Gains
- Notable open interest changes for February 27th
- FAA targeting Verizon contract in favor of Musk’s Starlink, WaPo reports
- Trump and Musk Shake-Up Puts Millions of Jobs at Risk With Economic Ripples on the Horizon